Sharp rent increases in many parts of the country are eating up a bigger share of Americans’ monthly income, squeezing tenants already grappling with rising prices for gasoline, food and other necessities.Households with a median rent of US$1,179 in August tapped 30.3 per cent of their monthly income to pay their rent, up from 29.4 per cent a year earlier, according to an analysis by Zillow. The real estate information company examined data on median rents and household incomes across 50 of the…
Source : South China Morning Post
Read more…Rising rental charges are taking up larger chunks of Americans’ income, putting a further squeeze on struggling households
